Future Market Insights
Global Automatic Identification And Data Capture Market: Overview
The global automatic identification and data capture market is deriving a lot of its growth from the continuous expansion in the e-commerce industry. The increasing utilization of smartphones for the scanning of QR codes and image recognition is boosting the automatic identification and data capture market across the world. Apart from this, the rising uptake of technological solutions for automatic identification and data capturing in financial organizations is also supporting the growth of this market, significantly. Over the coming years, the increasing implementation of government regulations regarding personal identification will reflect positively on this market. The rising demand for automatic identification and data capturing in the healthcare and the supply chain management industries will also propel this market in the years to come.
Barcodes, optical character recognition (OCR), biometrics, voice recognition, magnetic stripes, radio frequency identification (RFID), and smart cards are the main technologies utilized in this market.
The dynamics in the global automatic identification and data capture market is constantly changing. As of now, the market’s trajectory is in upward direction and is expected to remain so in the near future.
Globally technology providers are increasingly focusing on reducing the human involvement in non-intelligent and basic machine based transactions. Development and adoption of systems that perform a set of transactions based on predefined triggers is on the rise. Such systems referred as Automatic Identification & Data Capture are at the basis of developing trends such as Industrial Automation, Retail Automation and Biometric Authentication. Automatic Identification & Data Capture tools such as RFID, Barcode Scanners and Biometric systems are facing an upsurge in adoption under this scenario.
Automatic Identification & Data Capture is a method of identification and detection of objects and data based on set of predetermined conditions. Software solutions, hardware components and devices such as Magnetic Stripes, Smart Cards and biometric readers are a part of Automatic Identification & Data Capture market. These Automatic Identification & Data Capture tools and solutions are used in payment authentication, self-checkout systems, logistics and other such systems, Automatic Identification & Data Capture systems used for applications in logistics, retail and industrial automation allow users to automate tracking of a huge volume of inventory and material flow while enabling significant cost and time improvements by eliminating manual processes.
Automatic Identification & Data Capture Market: Drivers & Challenges
Fast moving industry of e-commerce depends on the accuracy and speed of movement of merchandise. Moreover the e-commerce industry is becoming increasingly competitive where cost minimization is of paramount importance. This presents a lucrative opportunity for the Automatic Identification & Data Capture market to capitalize on. Similarly Retail industry is also heavily investing on automation solutions built on top of Automatic Identification & Data Capture tools. This is helping Automatic Identification & Data Capture gain rapid penetration in retail markets. A huge chunk of a retail outlet’s total sale is contributed by low value products and it is therefore economically unviable to use technologies such as RFIDs and 2D barcodes which are at the base of developments in Automatic Identification & Data Capture market. This is true for many other industries too where the cost of large scale implementation is impeding the growth of Automatic Identification & Data Capture Market.
Automatic Identification & Data Capture Market: Segmentation
Segmentation of Automatic Identification & Data Capture Market, By Technology
Barcodes use an industry defined standard of bars and spaces to form a sticker which can be read by a barcode reader using laser beam
2D Barcodes are an advanced version of Barcodes that can store more information than traditional Barcodes that can only have vertical bars
Magnetic Stripes are typically used in payment methods such as credit cards, debit cards and are detected by a magnetic stripe reader
Smart cards have an embedded microchip within them and can store higher amount of data than a magnetic strip card. Identity cards and Access cards typically smart cards
(Radio Frequency Identification) RFID:
A RFID system is made of Antenna & transceiver in a detector and a Transponder which is embedded or attached onto the item that is to be detected.
Biometric systems use user inputted biological data such as Fingerprint, Iris patterns or Voice Characteristics to confirm the identity of an individual.
Automatic Identification & Data Capture Market: Regional Overview
North America is expected to lead the Automatic Identification & Data Capture Market in terms of value owing to high adoption of application areas such as E-Commerce, Retail Automation, Industrial Automation and Identity & Access Management. Automatic Identification & Data Capture Market is also expected to gain considerable traction in Asia Pacific region due to growing investment in digitization and urbanization.
Automatic Identification & Data Capture Market: Competitive Landscape
Automatic Identification & Data Capture Market :Key Contracts/Agreement/Acquisitions
In August 2016, Datalogic S.p.A, a leading player in the Automatic Identification & Data Capture Market partnered with StayLinked Corp. to leverage Staylinked’s SmartTE software in their data collection solutions
Automatic Identification & Data Capture Market : Key Players
Leading players in the Automatic Identification & Data Capture market include Shenzhen Unique Electronic International, Datalogic S.p.A, Honeywell International Inc., RIOTEC Co., Ltd., ZIH Corp., Synaptics Incorporated, CVISION Technologies, Inc., SATO Holdings Corporation and Toshiba TEC Corporation.
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